The collapse of construction and property company, Pindan Group, which has gone into administration owing up to $100-million to workers, subcontractors and creditors mainly in WA shows the urgent need for statutory trusts and security of payment laws for the construction industry.
This is according to the CFMEU Construction & General union, which has called it a a national disgrace that workers, subcontractors and small businesses are left with the financial burden when builders and property developers like Pindan go under.
Perth-based Pindan went into voluntary administration on Tuesday. At the time it was running close to 70 projects and had just under 300 direct employees. Around half have since lost their jobs.
Ernst and Young ha…
Read the full article at: https://www.australiantimes.co.uk/news/union-angry-after-construction-company-collapse-hits-its-members/
